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news.LAB Research, a Canadian global non-clinical contract research organisation that provides contract research services to the pharmaceutical, biotechnology, agro-chemical, petro-chemical and industrial markets, has reported revenues of C$13.47m for the third quarter ended 30 September 2010, an increase of 3.1 %, compared to C$13.06m for the same period in 2009.
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LAB Research has posted a net loss of C$2.64m for the third quarter 2010, or C$0.05 loss per diluted share, compared to net loss of C$1.7m, or C$0.09 loss per diluted share, for the comparable period in 2009.
The company has posted revenue of C$42.73m, for the nine months ended 30 September 2010, compared to C$39.94m for the year ago period.
For the nine months ended 30 September 2010, LAB Research posted a net loss of C$7.14m, or C$0.14 loss per diluted share, compared to C$4.34m, or C$0.24 loss per diluted share, for the year ago period.
LAB Research president and CEO Luc Mainville said that they expect to continue making market share gains through the continuous promotion of the new services, increased scientific expertise and capabilities.
"Our Strategic Review Process is progressing as scheduled and is expected to created opportunities for LAB Research to restructure its capital structure and eliminate clients’ concerns regarding our long term viability," Mainville said.